The first is through space demand. Tech companies are the fastest growing members of the office tenant base as we analyze demand across the country. As a result, the top tech markets like Silicon Valley, San Francisco, Boston, Austin, and Seattle are among those leading the office recovery.

It’s the tech submarkets within those metros that are really hot. Rental rates last year grew 25% in Palo Alto, 35% in south of San Fran, and 20% right here in Cambridge. The tech services sector and specifically mobile, social media, search, cloud, and gaming that are the most active. They are recruiting young creative tech talent, and have to be in the urban tech hot spots with “creative” space to find and keep them.

The second way technology is impacting real estate is through our business. I see it plainly in my research world, where real time interactive digital content is rapidly replacing traditional quarterly PDF reports. Blogs like this one are the norm. Social media and mobile apps are changing how we connect with and engage clients, prospects, and our own people. There are many other examples, but one thing for sure is that as more millennials enter our industry, technology will play a bigger and bigger role in how we work. View event presentation.

Share this:

Like this:

Related

About Reesa Fischer

Reesa is SVP for NAIOP Massachusetts, where she is focused on maximizing value for members through exceptional programming, education, networking, and special events. NAIOP is the leading voice for commercial real estate in Massachusetts, representing developers, owners, managers, and investors, as well as those who provide services to the industry.

1 thought on “The Uptick in Tech – part one”

It’s clear that new technologies have a real impact on the housing market. Technology changes of course the way we connect each other and present to clients our ideas, but technology also helps us to build a different world through environmental sustainability and eco-friendly projects.